Licensed Realtor interested in Wholesaling?

[Chris Caldwell]

Im a licensed real estate agent and have recently seen some buddies wholesaling and making a WHOLE LOT of money the difference between my percentage and what they take home when a deal closes is HUGE and I was wondering if anyone knew if I could wholesale deals as a realtor? If I can I see a lot of ppl in this thread asking about contracts could I use the same contract I use for all of my buyers?

[Jerry Puckett]

@Chris Caldwell

I serve many licensed agents who also wholesale. They get two bites at every apple with the primary message being a cash offer at X$ or list for Y$.

If the cash offer isn't accepted then a listing agreement at their number is reached. A net listing is still a listing agreement and illegal because as a Brokerage service it is ignoring fiduciary duty to the seller.

A cash offer is made via contact and is not a Brokerage service...as the buyer, you owe no fiduciary duty. A buyer has no obligation to pay top dollar and can negotiate the best price for themselves. If the seller wants more than you are willing to pay, they have the right to say no to your offer.

At that point, as they are wishing to sell, you can put your agent hat on, offer Brokerage service and get the property listed.

Net listings may be illegal, but I'm pretty sure that even the licensed can offer to buy properties from anyone at prices that make sense to them (though you are still required to disclose that you are licensed) The difference is in the intention.